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» Personal Loan No Credit Check, Online Economics » Currency » Topics begins with I » Indian Rupie


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The Indian Rupie or Rupee is the currency of India. It is divided into 100 Paise. The ISO-4217-Code reads INR.

In India the Rupie in the following is in the circulation:

  • Coins to 10, 25 and 50 Paise as well as to 1, 2 and 5 Rupien.
  • Notes to 1, 2, 5, 10, 20, 50, 100, 500 and 1000 Rupien.

The notes of the priority under 10 of the Indian central bank no more given change are however still (2005) far common. Notes of 500 and 1000 Rupien are rather uncommon in the daily exchange, which can be explained from the price of most goods. The coins and notes are in different versions in the circulation, which is particularly because of the fact that money on banks and be drawn so old versions can back-move only rarely only slowly from traffic.

For the management of the Indian currency mainly the reserve bank OF India (RBI) is responsible. On its recommendation the government decides on the of the cash. Also the organization and security characteristics of notes are co-ordinated with the government. The expenditure of the notes is incumbent on then the RBI. It estimates the necessary number of notes for each nominal value and gives the appropriate quantities in order. For the organization and coinage of coins however alone the Indian government is responsible.

The distribution of the cash is made by the RBI. At present it maintains generally speaking country of 4422 so-called "currency safe deposits ", thus depots, in which for the circulation determined notes and coins are kept and at banks of the environment distributed. Besides there are 3784 small coin depots, which for the storage and distribution of Paise nominal ones are responsible in completely India.

The Indian Rupie is a not changeable currency, i.e. in and export are not permitted, international foreign exchange can however be imported and in India changed and again changed back.

Characteristics

There are the following accounting units for higher amounts:

1 Lakh (in numbers 1.00.000) = 100,000 Rupien

1 Crore (in numbers 1.00.00.000) = 100 Lakhs = 10.000.000 Rupien

The Indian Rupie is in Bhutan likewise legal tender in the relationship 1 INR = 1 Ngultrum (ISO: BTN).

History

The Rupie was historically seen a silver coin. The word Rupie deduces itself from the Sanskritwort (rupya) and means "finished silver ". Sher Shah Suri (1540-1545) introduced the Rupie as currency, which replaced thereby the old silver coin Tanka. Under Grossmogul Akbar (1556-1605) became the Rupie the standard silver coin with a standard weight of 11,44 gram, whereby under Akbars successors also coins of larger weight were coined/shaped. With the fall of the Mogulreiches in 18. Century came also Rupien with smaller silver portion in circulation.

The European colonial gentlemen transferred first only the currency designation, the Britisher and Frenchman to 17. and/or 18. Century also the style of the Rupien of the Mogulreiches. 1835 to date usual monetary systems of the three British presidencies Bengalen, Bombay and WAD-race standardized. One divided the Rupie into 16 Anna, who became quarterly Anna as Pice designation, which again in 3 Pai divided itself. 1839 were lowered the fine weight drastically by 916 2/3er silver on 500/1000. Until 1945 the Rupie was published as silver coin arranged in British style, 1947 for the first time as nickel coinage. The latter was at the same time the last colonial coin of India.

After the independence of India in the year 1947 the British monetary system had first further existence, finally decided the Indian government however for the conversion to the decimal system, which was introduced 1957. 1 Rupie corresponded to 100 Naye Paise (singular: Naya Paisa, dt.: "New Paisa "). 1964 were abolished the name additive "naye ".

Speakers of the languages Asamiya and Bengali in India call the Rupie frequently Taka. Also the currency Bangladeschs carries this name.

Up to the independence of India the Indian Rupie was also a generally accepted currency on the Arab peninsula and a wide-spread commercial coin in East Africa. In Kuwait it was still to 1961 official currency, in Bahrain until 1965, in Qatar and the Contracting States (today Arab emirates combined) until 1966 and in Oman until 1970.

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